NGC wins lawsuit in tampering scheme

The U.S.-based third-party grading service Numismatic Guaranty Company (NGC) has won a settlement in a lawsuit aimed at a tampering scheme targeting the numismatic community.

The settlement, between NGC and Richard Albright, ordered the defendant to turn over tampered NGC holders and coins and pay undisclosed damages to the grading firm.

“NGC is not afraid to forcefully pursue those who wish to take advantage of the brand we have built over the past three decades,” said Max Spiegel, the president of the Certified Collectibles Group, NGC’s parent company. “We are not afraid to hire private investigators and outside law firms in order to bring justice to those who wish to steal from members of the numismatic community.”

NGC filed the lawsuit against Albright early this year after learning of the scheme that tampered with NGC holders to sell coins misrepresented as certified by NGC. The months-long case saw NGC spend more than $100,000 US to halt the scheme.

As part of the settlement, Albright must reimburse NGC’s costs while the court also issued a permanent injunction restraining him from future misrepresentation of NGC-certified coins.

NGC has graded more than 58 million coins, tokens and medals since forming in 1987.

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